HOME › Research Insight › High-growth markets of Middle-East, Australia, New Zealand, China, and India and cloud-based practice management solutions are new revenue pockets for the Practice Management System Market

High-growth markets of Middle-East, Australia, New Zealand, China, and India and cloud-based practice management solutions are new revenue pockets for the Practice Management System Market

The North America and Europe are the established markets for practice management system. The developing regions, including Middle East, Asia (China and India) and Pacific regions, are expected to form the new revenue pockets for this market.A rise in the spending power of these countries is the major driver for the growth of practice management. Rising federal incentives, growing incidences of medication errors, increasing healthcare cost, and immediate need for integration of care system are the prime factors driving the growth of practice management system market.

To take advantage of the favorable conditions in developing economies and to gain competitive edge in the global market, a number of Tier-I companies are investing in these countries. For instance, in 2011 NextGen Healthcare started its operations in India through a captive unit called Quality Systems India Healthcare Private Limited (QSIH).

The cloud-hosted PM system market is estimated to witness tremendous growth in the next five years as it offers greater flexibility and accessibility to healthcare providers, and has low operational costs. In addition, integrated PM solutions segment of the practice management system market is projected to see high growth rates on account of strong government support and favorable incentive programs.